In Russia, they are preparing to sell cast iron and steel on the exchange

Today, at a meeting with journalists, Deputy Head of the Federal Antimonopoly Service (FAS) of Russia Andrei Kashevarov spoke about the prospects for organizing ferrous metals exchange trade.

Firstly, ferrous metals are a rather complicated product, said Andrei Kashevarov. And secondly, extremely small amounts of steel and cast iron are exposed to exchange trading today.

A system of registration of over -time transactions is needed, Kashevarov believes, it is necessary to transfer the emphasis on this particular problem. "The registration mechanism should be, and only the registration of over -the -term transactions allows us to receive price indices for certain goods, including ferrous metals. Having received the index, it is possible to develop exchange trade, and the sequence of steps should be built in a certain order," emphasized the deputy head of the Federal Antimonopoly Service of the Russian Federation.

The FAS Russia has already sent its proposals on the registration of OTC transactions with ferrous metals to the Ministry of Finance. “Now it remains only to wait: if the registration system is supported, it will be possible to think about the organization of exchange trading in ferrous metals,” concluded Andrei Kashevarov.